Home Login E-newsletter About us Subscribe

Home sweet home…despite the leasehold?

20 September 2018 / Rawdon Crozier
Issue: 7809 / Categories: Features , Property
nlj_7809_crozier

Rawdon Crozier examines the challenges of modern leasehold conveyancing

  • Homebuyers often do not understand leasehold and the conveyancer should point out onerous terms and potential problems.

In December 2017, the ministerial foreword to ‘Tackling unfair practices in the leasehold market, summary of consultation responses and government response’ was noteworthy for its description by Sajid Javid, then Secretary of State for Communities & Local Government, of aspects of the leasehold sector as ‘… practically feudal and entirely unjustifiable’.

Whether or not the ‘feudal’ tag was intended as more than a rhetorical flourish, it was not without justification. The development of new-build leaseholds into what could be described as modern ‘fee farms’ has presented conveyancers with challenges to which, evidence suggests, they have failed to rise. This is, however, changing.

In 1995 23% of new-build registrations were leaseholds, by 2016 that figure had risen to 46%. In the same period the percentage of new-build houses sold as leaseholds had more than doub

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content
MOVERS & SHAKERS
Chambers appoints new Silk
Firm appoints diversity champion
NEWS
The Family Court has dealt with a record number of domestic abuse cases during the height of the COVID-19 pandemic, while care proceedings for children lasted an extra three weeks on average and fewer children were adopted, official records show
The furlough scheme will not be extended and is due to end on 31 October, Chancellor of the Exchequer, Rishi Sunak confirmed last week
Diversity & inclusion were given as a key priority by Chris Bushell in his speech as president of the London Solicitors Litigation Association (LSLA), back in March
Birmingham solicitor and mediator Lubna Shuja has won the Law Society election for deputy vice president
The clock is ticking for obtaining effective UK pension sharing orders after an overseas divorce once the Brexit transitional period ends on December 31, practitioners are warning